Cabinet set to clear 2 big ports this week

In a bid to attract big-ticket private investment in critical infrastructure sector, the cabinet committee on economic affairs (CCEA) is set to clear two long-pending major port projects this week. HT reports.

In a bid to attract big-ticket private investment in critical infrastructure sector, the cabinet committee on economic affairs (CCEA) is set to clear two long-pending major port projects this week.

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The ports at Andhra Pradesh's Ramayapatanam and West Bengal's Sagar will fetch the government more than Rs 15,000 crore in investments.

The two project clearances will come as a part of the centre's plan to award as many as 30 ports worth Rs 24,600 crore during the current year and enhance the cargo handling capacity by 288.48 million tonnes.

Currently, Indian ports have capacity to handle around 1,000 MT per annum.

The CCEA on Thursday will consider a proposal to set up the Sagar port (Rs 7,820 crore) and Ramayapatanam port (Rs 8,000 crore).

The Andhra Pradesh government had offered three sites to set up the new major port; the central government picked the site in Prakasam district.

There are 12 major ports in India, under control of the central government. The clearance for the Sagar port was also keenly sought by West Bengal chief minister Mamata Banerjee to spruce up her state's investment scenario.